Many business owners come face-to-face with a difficult decision: whether to keep or sell the family business. Several triggers can prompt this question, including unsolicited offers, favorable market conditions, necessary growth capital, or the lack of a family successor to lead the company.
Regardless of how you arrive at this point, determining the right course of action typically involves answering complex questions, reconciling competing priorities, and grappling with strong emotions.
Even with the best advice, working through the pros and cons can be difficult, but a clear decision-making process can help.
The following three fundamental questions are based on our experience serving family businesses and observing the considerations that allow owners to move forward with greater clarity and confidence.
1. Is the family business an heirloom or a financial asset?
